Government pledges to create business enabling environment: Minister
During a meeting on October 4 between permanent Cabinet members and business representatives on the occasion of the Vietnam Entrepreneurs Day (October 13), Minister of Planning and Investment Nguyen Chi Dung highlighted both the challenges and opportunities facing Vietnamese enterprises today and outlined key strategic directions.
Vietnamese entrepreneurs are increasingly asserting their crucial role in the cause of national development and defence. Some businesses have reached regional and global levels, contributing to enhancing Vietnam’s position and prestige in the international arena. (Photo: Vietnamplus)
Hanoi (VNA) -🥀 During a meeting on October 4 between permanent Cabinet members and business representatives on the occasion of the Vietnam Entrepreneurs Day (October 13), Minister of Planning and Investment Nguyen Chi Dung highlighted both the challenges and opportunities facing Vietnamese enterprises today and outlined key strategic directions.
The Minister reiterated the Government’s strong commitment to supporting businesses and fostering a favourable environment for their growth in the new era.
He emphasized that throughout nearly 40 years implementing the Doi Moi (renewal) policy, the Vietnamese business community has developed strongly in both quantity and quality.
Vietnam now boasts over 930,000 enterprises, about 14,400 cooperatives, and more than 5 million active business households, underscoring the robust development of the private economic sector. (Photo: Vietnamplus)
According to Minister Dung, the private sector is a key force of Vietnam’s economy, contributing about 60% of GDP, 85% of the national workforce, and 98% of total import-export turnover.
These enterprises play a crucial role in generating wealth, driving economic growth, creating jobs, and contributing to poverty alleviation and social stability.
Minister of Planning and Investment Nguyen Chi Dung. (Photo: Vietnamplus)
Looking back at the socio-economic situation in the first nine months of the year, the Minister noted positive signs of recovery across various sectors. State budget revenue exceeded 85% of the estimate, up 18% year-on-year.
Total import-export turnover surpassed 577 billion USD, a year-on-year rise of 16.2%, with a trade surplus of 21.5 billion USD.
Notably, industrial production recorded a rapid recovery, serving as a key growth driver.
Attributing these positive results to the contributions of the business community, particularly those in the private sector, Minister Dung affirmed that the Government always accompanies businesses, strongly implements institutional reforms, improves the investment and business environment, and creates favourable conditions for business development.
State budget revenue in the first nine months of the year exceeds 85% of the estimate, up nearly 18% year-on-year. (Photo: Vietnamplus)
Despite these achievements, the minister pointed out limitations and shortcomings of the Vietnamese business community, such as small-scale operation, weak competitiveness, and low operational efficiency.
The management capacity and strategic vision of many businesses are still limited, he said, adding that a segment of business people lack business ethics and culture, and have low awareness about compliance with legal and social responsibilities.
Businesses should not rest on their laurels, but need to proactively adapt and innovate for survival and sustainable development (Photo: Vietnamplus)
In a rapidly changing world, Vietnamese businesses should not rest on their laurels, but need to proactively adapt and innovate for survival and sustainable development, he said. “They need to change their way of thinking and doing things,” he said.
The minister emphasized Vietnam’s goal of pursuing green and sustainable growth, focusing on high-tech industries, promoting the application of science and technology, and harnessing new growth momentum from the green, circular, and digital economies.
Businesses should not rest on their laurels, but need to proactively adapt and innovate for survival and sustainable development (Photo: Vietnamplus)
According to the minister, in the new era of numerous challenges and opportunities, Vietnamese enterprises must be proactive, creative, and collaborative to “rise up” and contribute to building a strong and prosperous nation.
The Government pledges to accompany businesses, remove obstacles, and create the best possible conditions for businesses to obtain sustainable development./.
The Government pledges to accompany businesses, remove obstacles, and create the best conditions for businesses to obtain sustainable development. (Photo: Vietnamplus)
Numerous enterprises have reported rising profits in the first half of the year, with several firms seeing a twofold surge in profits after tax compared to last year. This indicates an economic recovery despite both domestic and international challenges.
The Ministry of Information and Communications (MIC) has called on enterprises to send entries to the “Make in Vietnam” Digital Technology Product Award 2024, which was launched two weeks ago.
Ho Chi Minh City will implement a plan to support small and medium-sized enterprises (SMEs) with digital transformation to create a new growth driver for them while boosting socio-economic development, a conference has heard in HCM City last week.
The Vietnam Software and IT Services Association (VINASA) held a ceremony to announce and honour the Top 10 Outstanding Digital Technology Enterprises in Vietnam 2024 on September 21.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
